Kanawha & Putnam Counties dip but gain at the end of roller coaster.
In a recent article by realestate.com, during the housing crash over the last 5 years, home values have dropped over 9 TRILLION DOLLARS!
The report further states that this took on average $70,000 out of each homeowner's home value! But as the old saying goes, all real estate is local. That is especially true for the Charleston, WV market.
Historically, Charleston and surrounding areas tend to be very stable and not given to wild fluctuation's such as those heard of from across the country.
According to my research*, this past 5-year housing crash and subsequent roller coaster ride of home values, homeowners in Kanawha Valley experienced a rather mild ride.
At the beginning of the crash in 2007, the average home sold for $132,094. Prices increased then dropped some, but ended for 2011 at $134,980. An increase over 2007 of $2,886.
Putnam County fared well overall, even though there was a sharper drop but an almost equal gain. In 2007 the average sold price was $187,946. In 2011 the average sales price was $191,936. An increase 2011 over 2007 of $3,990!
The moral of the story, a house is most importantly a home, but also a safe investment for the long term. If you are thinking of buying a home in Kanawha or Putnam Counties, give me a call (304) 741 4705. I can help locate the best home for your money.
Riding the Trillion-Dollar Real Estate Recovery Roller Coaster.
*data was calculated from the Kanawha Valley Board of REALTORS MLS system and does not include FSBO or other home sales not included in the MLS system.